Federal Register / Vol. 63, No. 132 / Friday, July 10, 1998 / Notices 37423

1Boston Gas has an active wholly owned

nonutility subsidiary, Massachusetts LNG

Incorporated, which holds title to a liquid natural

gas storage facility.

2AllEnergy Marketing Company, Inc., Boston Gas

Services, Inc., Eastern Energy Systems Corp.,

Eastern Urban Services, Inc., Mystic Steamship

Corporation, Philadelphia Coke Co., Inc., Water

Products Group Incorporated, and Western

Associated Energy Corp. are inactive.

3Midland’s subsidiaries include: Capital Marine

Supply, Inc., Chotin Transportation, Inc., Eastern

Associated Terminals Company, Federal Barge

Lines, Inc., Hartley Marine Corp., Minnesota Harbor

Service, Inc., The Ohio River Company, The Ohio

River Company Traffic Division, Inc., The Ohio

River Terminals Company, Orgulf Transport Co.,

Orsouth Transport Co., Port Allen Marine Service,

Inc., Red Circle Transport Co., River Fleets, Inc.,

and West Virginia Terminals, Inc. Federal Barge

Lines, Inc. is inactive. Midland and its active

subsidiaries are engaged in river barge

transportation services and related support

activities.

Midlands also has an inactive nonutility

subsidiary, Federal Barge Lines, Inc.

the Series H Refunding Bonds and pay

a related fee.

Eastern Enterprises (70–9195)

Eastern Enterprises (‘‘Eastern’’), 9

Riverside Road, Weston, Massachusetts

02139, a public utility holding company

exempt by order under section 3(a)(1) of

the Act has filed an application under

sections 3(a)(1), 9(a)(2) and 10 of the

Act.

Eastern proposes to acquire all of the

issued and outstanding voting securities

of Essex County Gas Company

(‘‘Essex’’), a gas public utility company.

To accomplish the acquisition, Eastern

and Essex have entered into an

Agreement and Plan of Merger, dated as

of December 19, 1997 (‘‘Agreement’’).

The Agreement provides, among other

things, that a special purpose subsidiary

of Eastern (‘‘NEWCO’’) will merge with

and into Essex. Shares of NEWCO will

be converted into shares of new

common stock of Essex, which will

become a wholly owned subsidiary of

Eastern. Each outstanding share of Essex

will be converted into 1.183985 shares

of Eastern common stock, subject to

adjustment under certain circumstances

based on the average market price for a

specified period prior to closing. The

stockholders of Essex will become

stockholders of Eastern. Outstanding

debt securities of Essex will not be

affected and will remain outstanding on

the same terms and conditions.

The trustees of Eastern approved the

merger at a meeting held on December

12, 1997. No approval of Eastern’s

shareholders is required. The board of

directors of Essex approved the merger

at a meeting held on December 19, 1997.

The shareholders of Essex voted to

approve the Merger at a meeting held on

June 24, 1998.

Eastern’s sole utility subsidiary,

Boston Gas Company (‘‘Boston Gas’’),

serves approximately 530,000 gas retail

customers, all in Massachusetts.1 Essex

serves approximately 42,000 gas retail

customers entirely in eastern

Massachusetts. The service territories of

Eastern and Essex are contiguous.

Eastern’s net earnings for the twelve

months ended December 31, 1997 were

$51,950,000 on revenues of

$970,204,000. Eastern’s nonutility

subsidiaries contributed $269,259,000,

approximately 27.8% of total revenues

during this period. Essex’s net earnings

for the twelve months ended August 31,

1997, were $3,966,519 on revenues of

$53,534,734, substantially all of which

were provided by its utility operations.

Both Eastern and Essex are subject to

the retail ratemaking jurisdiction of the

Massachusetts Department of

Telecommunications and Energy.

Eastern has several direct nonutility

subsidiaries. These include: Midland

Enterprises Inc. (‘‘Midland’’), AllEnergy

Marketing Company, Inc., AMR Data

Corporation, Boston Gas Services, Inc.,

Eastern Associated Capital Corp.,

Eastern Associated Securities Corp.,

Eastern Energy Systems Corp., Eastern

Enterprises Foundation, Eastern

Rivermoor Company, Inc., Eastern

Urban Services, Inc., Mystic Steamship

Corporation, PCC Land Company, Inc.,

Philadelphia Coke Co., Inc., ServiceEdge

Partners, Inc., Water Products Group

Incorporated, and Western Associated

Energy Corp.2 Midland and its

subsidiaries 3 are engaged in river barge

transportation services and related

support activities. The other nonutility

subsidiaries are engaged in investment

activities, real estate activities, installing

and servicing HVAC equipment,

automated meter reading services, and

ownership of liquid natural gas storage

facilities.

Essex has two nonutility subsidiaries,

LNG Storage, Inc. (‘‘LNG’’) and Northern

Energy Company, Inc. (‘‘Northern’’).

LNG owns a liquid natural gas storage

facility. Northern is inactive.

In addition, Eastern requests an order

granting it an exemption under section

3(a)(1) of the Act following the Merger.

Eastern asserts that upon consummation

of Merger, Eastern will continue to

satisfy the requirements for an

exemption under section 3(a)(1). Eastern

states that it and its public utility

subsidiaries, currently are, and will

continue to be, predominately intrastate

in character and will continue to carry

on their businesses substantially in

Massachusetts.

For the Commission, by the Division

of Investment Management, under

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 98–18293 Filed 7–9–98; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. PA–25; File No. S7–21–98]

Privacy Act of 1974: Establishment of

Three New Systems of Records:

Ridesharing System (SEC–44); Public

Transportation Subsidy Program

(SEC–45); and Identification Cards,

Press Passes, and Proximity Access

Control Cards (SEC–46)

AGENCY: Securities and Exchange

Commission.

ACTION: Notice of the establishment of

three new systems of records.

SUMMARY: In accordance with the

requirements of the Privacy Act of 1974,

as amended, 5 U.S.C. 552a, the

Securities and Exchange Commission

(SEC) gives notice of the establishment

of three new Privacy Act systems of

records: Ridesharing System (SEC–44);

Public Transportation Subsidy Program

(SEC–45); and Identification Cards,

Press Passes, and Proximity Access

Control Cards (SEC–46).

DATES: The proposed change will

become effective August 19, 1998,

unless further notice is given. The

Commission will publish a new notice

if the effective date is delayed to review

comments, or if changes are made based

on comments received. To be assured of

consideration, comments must be

received by the contact person below on

or before August 10, 1998.

ADDRESSES: Persons wishing to submit

comments should file three (3) copies

thereof with Jonathan G. Katz, Secretary,

Securities and Exchange Commission,

450 Fifth Street, NW., Washington, DC

20549. Reference should be made to File

No. [S7–21–98]. Copies of the comments

will be available for public inspection

and copying at the SEC’s Public

Reference Room, 450 Fifth Street, NW.,

Washington, DC 20549.

FOR FURTHER INFORMATION CONTACT:

Hannah R. Hall, Privacy Act Officer

(202) 942–4320, Office of Filings and

Information Services, Freedom of

Information Act and Privacy Act

Operations, Securities and Exchange

Commission, Operations Center, 6432

General Green Way, Mail Stop O–5,

Alexandria, VA 22312–2413.
37424 Federal Register / Vol. 63, No. 132 / Friday, July 10, 1998 / Notices

SUPPLEMENTARY INFORMATION: The SEC

gives notice of the establishment of

three new systems of records entitled

the Ridesharing System (SEC–44);

Public Transportation Subsidy Program

(SEC–45); and Identification Cards,

Press Passes, and Proximity Access

Control Cards (SEC–46).

The SEC is establishing SEC–44 to

administer its ridesharing program for

those SEC employees who participate in

a vanpool or carpool. The ridesharing

system allows SEC employees who

participate in a vanpool or carpool for

equitable parking based on established

criteria.

The SEC is establishing SEC–45 to

administer its subsidy program for those

SEC employees who use public

transportation. The SEC’s public

transportation subsidy program was

designed to reduce transportation to

work by private conveyance and to

increase the use of public

transportation—thus reducing traffic

congestion, energy consumption, and

vehicular pollution. Generally, the

subsidy is issued in a manner that is not

readily transferable into cash. At the

SEC Headquarters, the subsidy is

distributed on a bimonthly basis

whereas in the field offices, the method

or period for distributing the subsidy is

left to the discretion of each Regional

Director and District Administrator.

The SEC is establishing SEC–46 to

administer its Identification Cards, Press

Passes, and Proximity Access Control

Cards program for those SEC employees,

members of the press, contractors, and

consultants, who require access to SEC

facilities. The SEC’s identification card

program was designed to facilitate

access to SEC facilities and to exit the

same.

The new systems of records reports,

as required by 5 U.S.C. 552a(r) of the

Privacy Act, have been submitted to the

Committee on Government Operations

of the House of Representatives, the

Committee on Government Affairs of the

Senate, and the Office of Management

and Budget, pursuant to Appendix I to

OMB Circular A–130, ‘‘Federal Agency

Responsibilities for Maintaining

Records About Individuals,’’ as

amended on February 20, 1996 (61 FR

6428, 6435).

Accordingly, the SEC proposes to

establish the following systems of

records.

SEC–44

SYSTEM NAME:

Ridesharing System.

SYSTEM LOCATION:

Securities and Exchange Commission,

Operations Center, Office of

Administrative and Personnel

Management, 6432 General Green Way,

Mail Stop O–1, Alexandria, VA 22312–

2413.

CATEGORIES OF INDIVIDUALS COVERED BY THE

SYSTEM:

SEC employees who participate in a

vanpool or carpool and apply for

parking permits.

CATEGORIES OF RECORDS IN THE SYSTEM:

Records include SEC Form 2421

(Official Parking Application). Records

contain the employee’s name, home

address, SEC telephone number, and

vehicle make, model, year, tag number,

and state.

AUTHORITY FOR MAINTENANCE OF THE SYSTEM:

Exec. Order 12191; 41 CFR 101–6.3;

41 CFR 101–20.104; and 41 CFR 101–

20.104–1 through 4, and 42 U.S.C.

13201.

PURPOSE:

The system is primarily designed to

encourage the formulation of carpools or

vanpools, as a means to conserve

petroleum, reduce congestion, and

improve air quality; and to provide

equitable parking based upon

established criteria.

ROUTINE USES OF RECORDS MAINTAINED IN THE

SYSTEM, INCLUDING CATEGORIES OF USERS AND

THE PURPOSE OF SUCH USES:

No routine use disclosures have been

established for these records. The

records and information contained in

these records will not be disclosed

outside the SEC, unless mandated by

law. See Conditions of Disclosure to

Third Parties, 5 U.S.C. 552a(b).

POLICIES AND PRACTICES FOR STORING,

RETRIEVING, ACCESSING, RETAINING, AND

DISPOSING OF RECORDS IN THE SYSTEM:

RETRIEVABILITY:

Electronic records may be searched

and retrieved by the employee’s name or

parking permit number. Paper records

are retrieved by the parking permit

number only.

SAFEGUARDS:

Paper records are placed in a locked

file cabinet, and the data which is

extracted from these paper records is

keyed into a computer database,

safeguarded by restricted passwords.

RETENTION AND DISPOSAL:

Records are maintained on one form

and in a computer database.

Documentation (paper and electronic

records) is kept for two years then

destroyed.

SYSTEM MANAGER(S) AND ADDRESS:

Office of Administrative and

Personnel Management, Operations

Center, Securities and Exchange

Commission, 6432 General Green Way,

Mail Stop O–1, Alexandria, VA 22312–

2413.

NOTIFICATION PROCEDURE:

All requests to determine whether this

system of records contains a record

pertaining to the requesting individual

may be directed to the Privacy Act

Officer, Securities and Exchange

Commission, Operations Center, 6432

General Green Way, Mail Stop O–5,

Alexandria, VA 22312–2413.

RECORD ACCESS PROCEDURES:

Persons wishing to obtain information

on the procedures for gaining access to

or contesting the contents of this record

may contact the Privacy Act Officer,

Securities and Exchange Commission,

Operations Center, 6432 General Green

Way, Mail Stop O–5, Alexandria, VA

22312–2413.

CONTESTING RECORDS PROCEDURES:

See record access procedures above.

RECORD SOURCE CATEGORIES:

Information is provided by SEC

employees, who have applied for

parking, and by the issuing official.

EXEMPTIONS CLAIMED FOR THE SYSTEM:

None.

SEC–45

SYSTEM NAME:

Public Transportation Subsidy

Program.

SYSTEM LOCATION:

Securities and Exchange Commission,

Operations Center, Office of

Administrative and Personnel

Management, 6432 General Green Way,

Mail Stop O–1, Alexandria, VA 22312–

2413. SEC Regional and District Offices

are as follows: Central Regional Office,

1801 California Street, Suite 4800,

Denver, CO 80202–2648; Midwest

Regional Office, 500 West Madison

Street, Suite 1400, Chicago, IL 60661–

2511; Northeast Regional Office, 7

World Trade Center, Suite 1300, New

York, NY 10048; Southeast Regional

Office, 1401 Brickell Avenue, Suite 200,

Miami, FL 33131; Atlanta District

Office, 3475 Lenox Road, N.E., Suite

1000, Atlanta, GA 30326–1232; Boston

District Office, 73 Tremont Street, Suite

600, Boston, MA 02108–3812; Fort

Worth District Office, 801 Cherry Street,

19th Floor, Fort Worth, TX 76102;

Philadelphia District Office, The Curtis

Center, Suite 1005 East, 601 Walnut

Street, Philadelphia, PA 19106–3322;

San Francisco District Office, 44

Montgomery Street, Suite 1100, San
Federal Register / Vol. 63, No. 132 / Friday, July 10, 1998 / Notices 37425

Francisco, CA 94104; and Salt Lake

District Office, 50 South Main Street,

Suite 500, Salt Lake City, UT 84144–

0402.

CATEGORIES OF INDIVIDUALS COVERED BY THE

SYSTEM:

SEC employees who use public

transportation.

CATEGORIES OF RECORDS IN THE SYSTEM:

Records include the employee’s name,

date of hire, social security number,

organization, grade, and date of annual

certification.

AUTHORITY FOR MAINTENANCE OF THE SYSTEM:

Exec. Order 12191; Pub. L. 101–509,

Section 629; Pub. L. 103–172; 26 CFR

1.132–6; and 42 U.S.C. 13201.

PURPOSE:

The system is primarily designed to

encourage employees to use public

transportation as a means to conserve

petroleum, reduce congestion, and

improve air quality.

ROUTINE USES OF RECORDS MAINTAINED IN THE

SYSTEM, INCLUDING CATEGORIES OF USERS AND

THE PURPOSE OF SUCH USES.

The information contained in these

records are used as follows:

1. To the appropriate personnel for

periodic review of revalidation for

subsidy;

2. To the Office of Inspector General

for investigating allegations of abuse,

should they occur;

3. To the appropriate Federal, State,

or local agency responsible for

investigating, prosecuting, enforcing, or

implementing a statute, rule, regulation,

or order where the SEC becomes aware

of an indication of a violation or

potential violation of civil or criminal

law or regulation; and

4. To another Federal agency or to a

court when the Government is party to

a judicial proceeding before the court.

POLICIES AND PRACTICES FOR STORING,

RETRIEVING, ACCESSING, RETAINING, AND

DISPOSING OF RECORDS IN THE SYSTEM:

RETRIEVABILITY:

Records are maintained alphabetically

and retrieved by the employee’s name.

SAFEGUARDS:

Computerized records are safeguarded

by restricted passwords and the paper

records are locked in file cabinets.

RETENTION AND DISPOSAL:

Records in either paper or electronic

form may include applications,

certification logs, vouchers, and

spreadsheets, used to document the

disbursement of transportation

subsidies. These records are destroyed

after three years under the National

Archives and Records Administration’s

General Records Schedule No. 9, Item 7.

SYSTEM MANAGER(S) AND ADDRESS:

Office of Administrative and

Personnel Management, Operations

Center, Securities and Exchange

Commission, 6432 General Green Way,

Mail Stop O–1, Alexandria, VA 22312–

2413. SEC Regional and District Offices

are as follows: Central Regional Office,

1801 California Street, Suite 4800,

Denver, CO 80202–2648; Midwest

Regional Office, 500 West Madison

Street, Suite 1400, Chicago, IL 60661–

2511; Northeast Regional Office, 7

World Trade Center, Suite 1300, New

York, NY 10048; Southeast Regional

Office, 1401 Brickell Avenue, Suite 200,

Miami, FL 33131; Atlanta District

Office, 3475 Lenox Road, N.E., Suite

1000, Atlanta, GA 30326–1232; Boston

District Office, 73 Tremont Street, Suite

600, Boston, MA 02108–3812; Fort

Worth District Office, 801 Cherry Street,

19th Floor, Fort Worth, TX 76102;

Philadelphia District Office, The Curtis

Center, Suite 1005 East, 601 Walnut

Street, Philadelphia, PA 19106–3322;

San Francisco District Office, 44

Montgomery Street, Suite 1100, San

Francisco, CA 94104; and Salt Lake

District Office, 50 South Main Street,

Suite 500, Salt Lake City, UT 84144–

0402.

NOTIFICATION PROCEDURE:

All requests to determine whether this

system of records contains a record

pertaining to the requesting individual

may be directed to the Privacy Act

Officer, Securities and Exchange

Commission, Operations Center, 6432

General Green Way, Mail Stop O–5,

Alexandria, VA 22312–2413.

RECORD ACCESS PROCEDURES:

Persons wishing to obtain information

on the procedures for gaining access to

or contesting the contents of this record

may contact the Privacy Act Officer,

Securities and Exchange Commission,

Operations Center, 6432 General Green

Way, Mail Stop O–5, Alexandria, VA

22312–2413.

CONTESTING RECORDS PROCEDURES:

See record access procedures above.

RECORD SOURCE CATEGORIES:

Records include SEC Form 2344,

Return/Termination of Public

Transportation Subsidy; SEC Form

2316, Employee Certification for Public

Transportation Subsidy; SEC Form

2317, Receipt for Public Transportation

Subsidy; SEC Form 2318, Disbursing

Agents, Voucher; and SEC Form 2407,

Authorization for Third-Party Receipt of

Public Transportation Subsidy.

EXEMPTIONS CLAIMED FOR THE SYSTEM:

None.

SEC–46

SYSTEM NAME:

Identification Cards, Press Passes, and

Proximity Access Control Cards.

SYSTEM LOCATION:

Securities and Exchange Commission,

Operations Center, Office of

Administrative and Personnel

Management, 6432 General Green Way,

Mail Stop O–1, Alexandria, VA 22312–

2413.

CATEGORIES AND INDIVIDUALS COVERED BY THE

SYSTEM:

SEC employees, members of the press,

contractors, and consultants who

require access to SEC facilities.

CATEGORIES OF RECORDS IN THE SYSTEM:

Records include SEC Form 980,

Regular Identification Card (name, date

of birth, weight, height, color of hair and

eyes, employee identification number,

and date of expiration); SEC Form 980A,

Day Pass (date, name, organization, and

authorized by); SEC Form 990, Special

Credential (signature of employee and

card number); SEC Form 2354,

Temporary Pass (date of expiration and

control number); SEC Form 2355,

Contractor and Consultant Pass (name,

issuing officer, control number,

identification number, date of issue,

expiration date, date of birth, color of

hair and eyes, height, weight, and

assignment); SEC Form 2264, Permanent

(Resident) Press Pass (name,

organization, control number, and date

of expiration); SEC Form 2265

Temporary (Non-Resident) Press Pass

(name, organization, control number,

and date of expiration); SEC Form 725,

Identification/Access Control Card

Worksheet (various personal

characteristics); and Proximity Access

Control Card (name, clearance(s),

company and division).

AUTHORITY FOR MAINTENANCE OF THE SYSTEM:

The Federal Property and

Administrative Services Act of 1949 (63

Stat. 377), as amended.

PURPOSE:

This system was primarily designed

to permit access to SEC facilities by SEC

employees, members of the press,

contractors and consultants.
37426 Federal Register / Vol. 63, No. 132 / Friday, July 10, 1998 / Notices

1 15 U.S.C. 78s(b)(1).

2 17 CFR 240.19b–4.

3Amendment Nos. 1 and 2 have been replaced

and superseded by Amendment No. 5.

4See Securities Exchange Act Release No. 38308

(February 19, 1997), 62 FR 8467.

5See Letter from Claire P. McGrath, Vice

President & Senior Counsel, Amex, to Sharon

Lawson, Senior Special Counsel, Office of Market

Supervision (‘‘OMS’’), Division of Market

Regulation (‘‘Division’’), dated January 6, 1998

(‘‘Amendment No. 3’’). Amendment No. 3 makes a

number of changes to the proposal which are

discussed herein.

6See Letter from Claire P. McGrath, Vice

President and Special Counsel, Amex, to Sharon

Lawson, Senior Special Counsel, OMS, Division,

Commission, dated March 11, 1998 (‘‘Amendment

No. 4’’). Amendment No. 4 provides that options on

Fund Shares can either meet the uniform options

listing standards set forth in Rule 915 and

commentary .01 thereunder or meet the criteria set

forth in proposed commentary .06 to Rule 915. The

portion of Amendment No. 4 that addresses

comprehensive surveillance sharing agreements

with regard to non-U.S. stocks in the index or

portfolio on which the fund shares are based has

been replaced and superseded by Amendment No.

5.

7See Letter from Claire P. McGrath, Vice

President and Special Counsel, Amex, to Sharon

Lawson, Senior Special Counsel, OMS, Division,

Commission, dated April 27, 1998 (‘‘Amendment

No. 5’’). In Amendment No. 5 the Amex proposes

the following surveillance sharing standard: (1) that

any Fund Share with non-U.S. stocks in the

underlying index or portfolio that are not subject to

comprehensive surveillance sharing agreements do

not in the aggregate represent more than 50% of the

weight of the index or portfolio; (2) stocks for which

the primary market is in anyone country that is not

subject to a comprehensive surveillance agreement

do not represent 20% or more of the weight of the

index; and (3) stocks for which the primary market

is in any two countries that are not subject to

comprehensive agreements do not represent 33% or

more of the weight of the index. Amendment No.

5 supersedes and replaces Amendment Nos. 1 & 2,

and the portion of Amendment No. 4 that addresses

surveillance sharing.

8See Letter from Claire P. McGrath, Vice

President and Special Counsel, Amex, to Sharon

Lawson, Senior Special Counsel, OMS, Division,

Commission, dated June 19, 1998 (‘‘Amendment

No. 6’’). In Amendment No. 6 the Exchange clarifies

that Fund Shares that hold securities based upon a

narrow-based index or portfolio must have options

margin that equals at least 100% of the current

market value of the contracts plus 20% of the

ROUTINE USES OF RECORDS MAINTAINED IN THE

SYSTEM, INCLUDING CATEGORIES OF USERS AND

THE PURPOSE OF SUCH USES.

These records and information

contained in these records are used as

follows:

1. To the appropriate Federal, State or

local agency responsible for

investigating, prosecuting, enforcing, or

implementing a statute, rule, regulation,

or order, where the SEC becomes aware

of an indication of a violation or

potential violation of civil or criminal

law or regulation;

2. To another Federal agency or to a

court when the Government is party to

a judicial proceeding before the court;

3. To a Federal, State, or local agency,

in response to its requests, in

connection with the hiring or retention

of an employee, the issuance of a

security clearance, or the conducting of

a security or background investigation

of an individual, to the extent that the

information is relevant and necessary to

the requesting agency; and

4. To the Office of Inspector General

for investigating allegations of abuse,

should they occur.

Policies and practices for storing, retrieving,

accessing, retaining, and disposing of records

in the system:

Retrievability:

By use of a database, records may be

retrieved by the employee’s name and

identification number.

Safeguards:

Records are safeguarded by restricted

computer passwords, locked file

cabinets, and safes.

Retention and disposal:

Records are maintained in a

computerized database and paper.

Electronic records, identification cards,

and passes are destroyed three months

after expiration, revocation, or return to

issuing office, as provided in the

National Archives and Records

Administration’s General Records

Schedule No. 11, Item 4.

System manger(s) and address:

Office of Administrative and

Personnel Management, Operations

Center, Securities and Exchange

Commission, 6432 General Green Way,

Mail Stop O–1, Alexandria, VA 22312–

2413.

Notification procedure:

All requests to determine whether this

system of records contains a record

pertaining to the requesting individual

may be directed to the Privacy Act

Officer, Securities and Exchange

Commission, Operations Center, 6432

General Green Way, Mail Stop O–5,

Alexandria, VA 22312–2413.

Records access procedures:

persons wishing to obtain information

on the procedures for gaining access to

or contesting the contents of this record

may contact the Privacy Act Officer,

Securities and Exchange Commission,

Operations Center, 6412 General Green

Way, Mail Stop O–5, Alexandria, VA

22312–2413.

Contesting records procedures:

See record access procedures above.

Record source categories:

Inforamtion is provided by the SEC

employee, contractor, consultant, or

press member being issued the

identification card and by the issuing

official.

Exemptions claimed for the system:

None.

Dated: July 2, 1998.

By the Commission.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 98–18298 Filed 7–9–98; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–40157; File No. SR–Amex–

96–44]

Self-Regulatory Organizations; Order

Granting Approval of a Proposed Rule

Change and Notice of Filing and Order

Granting Accelerated Approval of

Amendment Nos. 3, 4, 5 and 6 to the

Proposed Rule Change by the

American Stock Exchange, Inc.

Relating to the Listing and Trading of

Options on Exchange-Traded Fund

Shares

July 1, 1998.

I. Introduction

On November 21, 1996, the American

Stock Exchange, Inc. (‘‘Amex’’ or

‘‘Exchange’’), pursuant to Section

19(b)(1) of the Securities Exchange Act

of 1934 (‘‘Act’’) 1 and Rule 19b–4

thereunder,2 filed with the Securities

and Exchange Commission (‘‘SEC’’ or

‘‘Commission’’) a proposed rule change

to list and trade options on securities

representing interests in open-end,

exchange-listed investment companies

that hold securities constituting or

based on an index or portfolio of

securities (‘‘Exchange-Traded Fund

Shares’’ or ‘‘Fund Shares’’). The

Exchange filed Amendment Nos. 1 and

2 to the proposal on January 16, 1997,

and February 19, 1997, respectively.3

Notice of the proposal, and Amendment

Nos. 1 and 2 appeared in the Federal

Register on February 25, 1997.4 No

comment letters were received on the

proposed rule change. On January 7,

1998, the Amex filed Amendment No. 3

to the proposed rule change.5

Among other things, Amendment No.

3 revises the proposal to permit the

Amex to trade FLEX Equity options on

Fund Shares. On March 12, 1998, the

Amex filed Amendment No. 4 to the

proposal 6 and on April 28, 1998, the

Exchange filed Amendment No. 5.7

Finally, on June 19, 1998, the Exchange

filed Amendment No. 6 to the proposed

rule change.8 This order approves the